News

July 15, 2018

Construction at 420 Broadway in Albany is well under way, with the 7 apartments fully framed and electrical and plumbing work started. In addition to the upper-floor apartments, improvements are planned for the commercial space on the ground floor, Coulson’s Deli. Updates to the deli include a new façade, an improved cash wrap area, and expanded storage. A new entrance to the residential floors is also underway.

In addition to this progress in Albany, closing on the building at 192 Erie Blvd in Schenectady is expected to happen in August. With all municipal approvals in place and steps taken to secure additional funding, construction is scheduled to begin in the fall. More on this closing can be found here.

April 15, 2018

In a continued search for the highest and best use of every available space, HPD has begun plans to build a cafeteria-style restaurant in the currently vacant space at 50 S Pearl Street. Though still in the initial planning phase, the current plan is to create seven stalls to house seven unique restaurants, with a shared kitchen and dining space. Construction is scheduled to begin in the early summer and take approximately two months. This new restaurant has been dubbed the 50 South Eatery.

December 30, 2017

Construction on the Residences at Capital Center, or 99 Pine Street, has been completed and the full Certificate of Occupancy has been granted. At this time, there are 7 signed leases/paid deposits on the move-in ready apartments. An official ribbon cutting ceremony with the BID and Mayor of Albany is scheduled for March 6th, 2018.

Additionally, HPD has just closed on the building at 420 Broadway in Albany. Constructed is slated to begin in the spring to create 7 apartments and to improve the facade of Coulson’s Deli.

November 2, 2017

HPD has bundled the two properties currently under contract (49 Stone Street in Rochester and 420 Broadway in Albany) into one unique package completed by a third property in Schenectady. Branded as RASPP (Rochester Albany Schenectady Properties Portfolio), this investment will allow for a diverse investment in three unique, yet similar, cities across New York. All three buildings have partial commercial occupancy and will be converted to mixed-use, keeping a commercial space on the first floor of each. Closing on all properties is expected in early 2018, with construction to start immediately thereafter.

September 15, 2017

HPD has entered into a purchase contract for 420 Broadway in the heart of Downtown Albany, New York. The 9,700 square foot commercial building will be converted to mixed-use, with a proposed 8 residential units to be developed on the upper four floors. The street-front commercial space will remain in place. The property is adjacent to the historic D & H Building, as well as being close to various parks and restaurants. A closing is expected for early 2018, with construction to begin immediately thereafter.

August 30, 2017

HPD has entered into a purchase contract for 49 Stone Street in the heart of the Central Business District in Rochester, New York. The 30,000 square foot commercial building will be converted to mixed-use, with a proposed 20 residential units to be developed on the upper three floors. The street-front commercial space will remain in place. The property is adjacent to the 1,659 space South Ave Parking Garage, and the Joseph A. Floreano Riverside Convention Center. A closing is expected for early 2018, with construction to begin immediately thereafter.

August 21st, 2017

With developments in the Capital Region of New York under way or finished, Hudson Partners Development has begun to research expanding markets in areas such as Rochester, NY, Buffalo, NY, Clearwater and Tampa, FL. While each potential market is very similar to Albany, they all have distinct cultures and communities that would welcome Hudson Partner Development’s vision for the future.

September 6th, 2016

September 21st, 2016

Maddalone & Associates, Inc. makes formal announcement through Press Release on the re-branding of company development arm as Hudson Partners Development LLC, click here for release.

August 3rd, 2016

HPD has closed on the $7 million multifamily conversion project at 99 Pine Street in the heart of downtown Albany, NY, known as the Capital Center Apartments. The local business press provide a great summary, a link to the article has been provided here.

June 6, 2016

HPD principal Seth Meltzer makes an appearance in the City of Albany Business Improvement District (BID) 20 year anniversary special video along with other business and community leaders. Click here for the video.

January 15, 2016

HPD is pleased to announce the opening of the four story, 11,000 square foot mixed-use building at 525 Union Street in Schenectady, NY. Half of the residential units have already been occupied with great demand for the remaining units. The first floor will house the offices of HPD as well as it’s affiliated property management arm Maddalone & Associates, Inc.

The completion of this project has brought life back to an aging, vacant streetscape and has been much lauded by city and economic development officials.

October 14, 2015

HPD has entered into a purchase contract for the popular “Capital Center” building in the heart of downtown in Albany, NY. The 101,000 square foot commercial building will be converted to mixed-use, with a proposed 35 residential units to be developed on the upper three floors. The commercial and retail space on the lower units will remain in place. A closing is expected for the summer of 2016, with construction to begin immediately thereafter.

July 14, 2015

HPD has purchased two buildings totalling 22,000 square foot in the heart of downtown Albany, NY. The buildings are directly across the street from the regional event center known as the Times Union Center. The buildings will be connected internally and converted to 16 market-rate apartments along with retail/restaurant space on the first floor. Construction is to begin immediately.

January 30th, 2015

HPD principal Christopher Maddalone featured in the area’s premier source for business news, the Albany Business Review which is part of the nationwide media firm American City Business Journals. The “10 minutes with…” series spotlights local business leaders. Feel free to link to the article here.